Trump sends crypto prices soaring after announcement of strategic reserve

Quick Summary:

Cryptocurrency prices briefly jumped after President Donald Trump's surprise announcement he wants the US government to purchase and hold a variety of digital assets in a strategic reserve fund, an announcement that highlights Trump's growing attempts to use volatile cryptocurrency prices as a barometer of his public support.

Trump said on social media Sunday that his administration is working toward creating a Crypto Strategic Reserve that will include lesser-known cryptocurrencies XRP, solana, and cardano.

The announcement helped crypto prices enjoy a brief rebound after recent sell-offs.

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Category: BusinessFinance

Markets: IndiaCanadaNorth KoreaMexico

Topics: Crypto Donald Trump Trump govt Trump administration Cryptocurrency

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-04 @ 06:57:32 (11 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 774 words

Reading Time: 5 minutes read

Sentences: 30 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 26652786

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